India aims to take defence exports to $5 billion by 2024-25: Modi at Aero India 2023

Prime Minister Narendra Modi stated on Monday that India plans to increase defence exports to $5 billion by 2024-25 and that the country would move quickly to join the defense-producing countries.

“India has rejuvenated its defense sector in the last 8-9 years. We just consider this to be just the beginning. We aim to take defense exports to $5 billion by 2024-25. India will now move fast to join the defence producing countries,” he said after inaugurating Aero India 2023 here. 

Modi stated today that India is more than simply a market for global defence industries; the country is also developing as a potential partner for countries seeking to meet their security demands.

“Our technology is cost-effective as well as credible coupled with honest intent,” he added.

Modi cited Tejas fighter jets, the indigenously manufactured INS Vikrant, and the Tumakuru Helicopter Factory as examples of Make In India’s prowess.

“India of the 21st century will neither lose out on any opportunity nor will shy away from working hard to achieve its dreams,” he said.

The Prime Minister stated that today’s India thinks quickly and far, and makes swift judgements, and that the India of Amrit Kaal is pushing forward like a fighter pilot, not scared to touch heights and ready to soar high.

“The deafening roar of Aero India also has the echo of India’s reform, performance, and transform,” he said.

Modi stated that India’s reforms towards ease-of-doing-business are being debated all over the globe today, and that India has taken various efforts to create a climate favourable to global investment and Indian creativity.

According to the Prime Minister, Aero India was formerly regarded a window of defence display in India, but throughout the years, the event has evolved as a representation of India’s strength, with an emphasis on its defence sector.

“India’s successes are giving proof of its possibilities and capability and added that Tejas aircraft roaring in the sky is the proof of the success of ‘Make in India’. The new India of the 21st century will neither miss any opportunity nor leave any stone unturned in its hard work. We are gearing up,” he said.

“When a country moves forward with new thinking and new approach, then its systems also start adapting with new thinking,” he added. Today’s event also reflects the new thinking of India. Today this event is not just a show, it is also the strength of India and also focuses on the scope and self-confidence of India’s defense industry,” the PM added.

This event is also noteworthy since it is taking place in Karnataka, a state known for its technological ability, according to Modi.

“This event will create new opportunities in the field of aerospace and defence. New possibilities will arise for the youth of Karnataka,” he added.

This year’s event, according to Modi, has shattered all prior records, with participation from all levels, including MSMEs, Indian startups, and established enterprises from across the world, and the concept of Aero India – The runway to a billion chances – is being achieved.